Carpenter Technology Corp (NYSE: CRS) has reported earnings for its third fiscal quarter (ending March 31) of $0.12 versus $0.38 for the same period a year ago — a decline of -68%. This performance was $-1.14 short of the consensus estimate of $1.26. E.P.S. were $2.65 for the latest four quarters through March 31 versus $0.41 for the same period a year ago — an increase of 546%.
Recent Price Action
On 5/1/24, Carpenter Technology Corp (NYSE: CRS) stock enjoyed a major increase of 14.7%, closing at $98.33. Moreover, this advance was accompanied by exceptionally high trading volume at 398% of normal. Relative to the market the stock has been strong over the last nine months and has risen 22.1% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, CRS is expected to continue to be an important Value Builder.
Carpenter Technology has a current Value Trend Rating of C (Low Neutral). This rating combines very contradictory signals from two proprietary PTR measures of a stock’s attractiveness. Carpenter Technology has a poor Appreciation Score of 18 but a good Power Rating of 74, leading to the Low Neutral Value Trend Rating.
Rating Review
In light of this new information and very positive price change we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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